Zee Entertainment has contested all of Star India's claims, including the $940 million (about Rs 8,000 crore) in damages that Star had filed a "Statement of Case" with the London Court of International Arbitration (LCIA) reporting the alliance agreement's termination.
"The Company categorically refutes all claims and assertions made by Star including its claims for damages. The arbitration is at its initial stage and the LCIA Arbitral Tribunal is yet to determine if the Company is liable in any manner," said Zee Entertainment.
Zee declared that it will "strongly contest" and label as "unfounded" all of Star's assertions. The media corporation further stated that the arbitration is only in its "initial stages" and that the Tribunal has not yet assigned any sort of responsibility.
Regarding the cooperation agreement that both parties had signed in August 2022, Star India filed for arbitration against Zee in March 2024.
Zee Entertainment and Star India signed the 2022 Alliance Agreement, which sublicensed the TV broadcasting rights of ICC Men's and Under-19 international matches to be televised between 2024 and 2027.
Earlier this year, Zee Entertainment had alleged that Star India had not acted following the alliance agreement over the sharing of TV broadcast rights of ICC cricket matches, and sought a refund.
A private, non-profit organisation, the London Court of International Arbitration (LCIA) was established to use arbitration and other processes to settle business disputes.
_20240427194329original_image_42.webp)
_20241106163229_original_image_30.webp)